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Lian Beng Group 1Q16 Net Profit Soars 169.5%

Shares Investment

Lian Beng Group has announced a 1Q16 net profit of $32.3 million, an improvement of 169.5 percent from 1Q15 net profit of $12 million, despite a fall in revenue.

Revenue saw a drop of 19.1 percent to $135.6 million (1Q15: $167.6 million) mainly due to a decrease in revenue generated from the construction segment and ready-mixed concrete segment.

However, profitability came in the form of share of results of associates and joint ventures, which soared 464.6 percent to $28.6 million. This improvement was mainly due to the recognition of the group’s share of profits in associates and joint ventures from a few development projects namely, Newest, KAP Residences, Eco-tech@Sunview and The Midtown.



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